World Asset Management Inc boosted its position in shares of Lamar Advertising Company (NASDAQ:LAMR) by 2.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,997 shares of the real estate investment trust’s stock after buying an additional 156 shares during the period. World Asset Management Inc’s holdings in Lamar Advertising were worth $441,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in LAMR. Penserra Capital Management LLC purchased a new stake in Lamar Advertising during the first quarter worth about $169,000. HL Financial Services LLC purchased a new stake in Lamar Advertising during the first quarter worth about $217,000. Creative Planning boosted its stake in Lamar Advertising by 11.1% in the first quarter. Creative Planning now owns 2,906 shares of the real estate investment trust’s stock worth $217,000 after buying an additional 290 shares during the period. Two Sigma Securities LLC purchased a new stake in Lamar Advertising during the first quarter worth about $220,000. Finally, SPC Financial Inc. purchased a new stake in Lamar Advertising during the second quarter worth about $221,000. Institutional investors own 85.94% of the company’s stock.

Shares of Lamar Advertising Company (NASDAQ:LAMR) opened at 65.13 on Friday. Lamar Advertising Company has a 1-year low of $58.68 and a 1-year high of $79.09.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported $0.94 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by $0.37. The company had revenue of $397.10 million during the quarter, compared to the consensus estimate of $399.09 million. Lamar Advertising had a net margin of 19.75% and a return on equity of 28.21%. Lamar Advertising’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.84 EPS. Equities research analysts expect that Lamar Advertising Company will post $3.12 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: This article was first published by Daily Political and is owned by of Daily Political. If you are reading this article on another publication, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The legal version of this article can be viewed at https://www.dailypolitical.com/2017/08/12/lamar-advertising-company-nasdaqlamr-position-boosted-by-world-asset-management-inc.html.

A number of equities research analysts have issued reports on the stock. ValuEngine upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a report on Thursday. Citigroup Inc. decreased their price target on shares of Lamar Advertising from $69.00 to $66.00 and set a “neutral” rating for the company in a report on Friday. MKM Partners decreased their price target on shares of Lamar Advertising from $72.00 to $64.00 and set a “neutral” rating for the company in a report on Wednesday. BidaskClub cut shares of Lamar Advertising from a “sell” rating to a “strong sell” rating in a research note on Thursday. Finally, Wells Fargo & Company cut shares of Lamar Advertising from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $73.40.

In related news, Director Stephen P. Mumblow sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $70.61, for a total value of $1,412,200.00. Following the completion of the transaction, the director now owns 5,970 shares of the company’s stock, valued at approximately $421,541.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 18.66% of the stock is owned by corporate insiders.

About Lamar Advertising

Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.

Want to see what other hedge funds are holding LAMR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lamar Advertising Company (NASDAQ:LAMR).

Institutional Ownership by Quarter for Lamar Advertising (NASDAQ:LAMR)

Receive News & Ratings for Lamar Advertising Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lamar Advertising Company and related companies with MarketBeat.com's FREE daily email newsletter.